Marital Settlement Agreement Maryland Example

If you`re going through a divorce in Maryland, one important document you`ll need to know about is the Marital Settlement Agreement (MSA). This document outlines the terms of your divorce settlement and covers issues such as child custody, visitation, financial support, and property division.

Although the MSA is not required by law in Maryland, it`s a standard document used in most divorces. It can be filed with the court as part of your divorce paperwork, and if approved by a judge, it becomes a legally binding contract between you and your ex-spouse.

So what should you include in your Marital Settlement Agreement? Here`s an example of some of the key provisions that might be included:

– Child custody and visitation: The MSA should spell out how you and your ex-spouse will share responsibility for your children, including where they will live and how much time they will spend with each parent. This section should also cover issues like holiday and vacation schedules, transportation arrangements, and how you will make decisions about your children`s education, healthcare, and other needs.

– Child support: If you have minor children, the MSA will also need to address financial support. This should include the amount of child support to be paid by which parent, as well as any provisions for things like medical expenses, extracurricular activities, and college tuition.

– Alimony: If one spouse is entitled to spousal support, the MSA should outline the amount and duration of those payments, as well as any other terms or conditions.

– Property division: The MSA will also cover how you and your ex-spouse will divide your assets and debts. This might include things like real estate, bank accounts, retirement accounts, and personal property (such as cars, furniture, and other possessions).

– Taxes: The MSA should address how you and your ex-spouse will handle tax issues related to your divorce, such as who will claim the children as dependents, how you will split any tax refunds or liabilities, and any other relevant matters.

It`s important to note that every divorce is unique, and the terms of your Marital Settlement Agreement will depend on your specific circumstances. For example, if you and your ex-spouse own a business together, you`ll need to include provisions for how that business will be divided or managed after the divorce. Similarly, if you have unique assets or debts, such as an inheritance or student loans, those should be addressed in the MSA as well.

To ensure that your Marital Settlement Agreement is comprehensive and meets your needs, it`s a good idea to work with an experienced divorce attorney. Your attorney can help you negotiate the terms of the MSA with your ex-spouse and ensure that your rights and interests are protected throughout the divorce process.

Ultimately, the goal of the Marital Settlement Agreement is to provide a clear and binding framework for your divorce settlement. With the right provisions in place, you can move forward with your life and begin the process of healing and re-establishing yourself as a single person.